VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 25, 2015) - CaNickel Mining Ltd. (TSX:CML) ("CaNickel" or the "Company"), announces that it has received notice from the Toronto Stock Exchange (the "TSX") that TSX is reviewing the eligibility of the Company's common shares for continued listing on the TSX.
Specifically, the TSX has advised that it is reviewing whether the Company meets the TSX's continued listing criteria in the following areas: (i) the Company's financial condition and operating results, and (ii) whether the Company has adequate working capital and an appropriate capital structure.
CaNickel is being reviewed under the TSX's remedial review process and has been granted 120 days to comply with all requirements for continued listing. If the Corporation cannot demonstrate that it meets all TSX requirements set out in Part VII of The Toronto Stock Exchange Company Manual on or before December 24, 2015, CaNickel's common shares will be delisted 30 days from such date.
CaNickel intends to cooperate fully with the TSX review process, including with respect to the consideration of listing alternatives for its common shares. Any continued listing or alternate listing of the Company's common shares will be dependent on a number of factors. In light of the status of CaNickel's operations under the current nickel price environment, there can be no assurance that the Company will be able to maintain a listing of its common shares on the TSX, or obtain an alternate listing on another exchange.
CaNickel Mining Ltd. is a Canadian junior mining company that owns the Bucko Lake Nickel Mine, currently on care and maintenance, near Wabowden, Manitoba. The Company also holds nickel, copper and Platinum Group Mineral (PGM) projects in the Thompson Nickel Belt.
Further information is available on the Company's website at www.canickel.com.